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4139

(1,893 posts)

2. [12, September 2004] Greek debt spirals after Olympics

Reply to polly7 (Original post)

Mon Jun 29, 2015, 08:18 PM

Jun 2015

The expected 7bn euro ($8.6bn; £4.8bn) burden means the national deficit is set to hit 5.3% in 2004, said Prime Minister Costas Karamanlis.

He said the previous government was to blame, for concealing the extent of Greece's economic troubles.

"A large part of Olympic, social and other spending was not written up in the budget," he said.

"The real deficit was not recorded... The public debt exceeds even the most pessimistic of estimations." ...
http://news.bbc.co.uk/2/hi/business/3649268.stm

I'm going to have to readup on what happened to Greece ...

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Highlight:

'No to Austerity': Tens of Thousands Back Syriza at Rally in Athens [View all] polly7 Jun 2015 OP

And of course the idea that we would help in any fashion.... daleanime Jun 2015 #1

[12, September 2004] Greek debt spirals after Olympics 4139 Jun 2015 #2

Been reading up on all this - commentary from Stiglitz asiliveandbreathe Jun 2015 #3

Yes, and no. Igel Jun 2015 #4